A former deputy national publicity secretary of the All Progressives Congress (APC), Comrade Timi Frank, on Sunday, condemned plans by President Muhammadu Buhari to borrow one other N6trillion.
In line with the political activist, it was higher for President Buhari to sell Nigeria as an entity than to proceed to take loans thereby perpetually enslaving Nigerians.
LEADERSHIP studies that the contemporary mortgage, in accordance with Buhari in a letter to the Speaker of the House of Representatives, Femi Gbajabiamila, was meant to finance deficit within the 2022 funds.
Buhari’s letter reads partially: “As you are aware Mr Speaker, the brand new growth each within the international financial system in addition to the home financial system has necessitated the revision of the 2022 fiscal framework on which the 2022 funds was primarily based.
“The whole funds deficit is projected to extend from N965.42 billion to N7.35 trillion representing 3.99 % of the GDP.
“The increment of the deficit will likely be financed by new borrowings from the domestic market.”
Frank, who’s the United Liberation Movement for West Papua (ULMWP) Ambassador to East Africa and Center East, in a press release in Abuja, described the move to further amass debt by the Buhari authorities as “unconscionable, immoral, anti-people and anti-God.”
He insisted that it was better for Buhari to sell Nigeria and share the cash amongst APC loyalists since his appetite for each domestic and international borrowings seems insatiable.
He urged Buhari to know that poverty in Nigeria has grown in equal proportion with loans already taken because the true intention for the debt has not been growth but to be shared by corrupt offers.
He lamented that regardless of the massive quantity of loans already amassed by the Buhari regime the nation was nonetheless ranked the poverty capital of the world, a transparent proof that the loans by no means benefited the poor masses or the utterly knocked down nation’s financial system.
“How can we have a President that solely knows how to borrow with no tangible project to indicate for what has been borrowed.
“Nigeria as we speak is beset by insecurity however Buhari can not account for over N10trillion defence funds since 2015.
“Nigeria was lucky to secure debt forgiveness and cancellation throughout the administration of President Olusegun Obasanjo. However Buhari has since acquired over ten times the value of Nigeria’s debt that was written off by the Bretton Woods Institutions, that’s, the World Bank and the International Monetary Fund (IMF).
“It’s unfortunate that the Buhari’s regime has turned out to be the worst government since this democratic dispensation in view of its try to fully subjugate Nigerians to poverty by making them slaves to creditor nations and establishments across the world.
“Because the 2023 general elections draw near, Nigerians are being introduced with an opportunity to vote in better and credible political leaders that will assist free the nation from the debt burden foisted on it by the Buhari-led APC regime, and ensure real development of the country,” Frank acknowledged.
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